Kraft Heinz  (KHC) is planning to cut 5,150 jobs, shutter six factories and consolidate its distribution network as Kraft Foods and H.J. Heinz continue to integrate their businesses post-merger. 

The company said that it will take a pre-tax $2 billion charge for cutting 13% of its workforce, while the company also plans to spend an additional $1.3 billion on capital expenditures related to the merger. 

The company has already spent $995 million on integration efforts since the merger in 2015. 

Kraft Heinz shares were up 0.6% in afternoon trading Thursday. 

More from Stocks

3 Must Know Market Insights From TheStreet's Jim Cramer Before Wednesday's Open

3 Must Know Market Insights From TheStreet's Jim Cramer Before Wednesday's Open

Short Disney Stock Here: Doug Kass Insider

Short Disney Stock Here: Doug Kass Insider

CHART: Even Consumer Staples Stocks Are Being Pummeled in Tuesday's Market Rout

CHART: Even Consumer Staples Stocks Are Being Pummeled in Tuesday's Market Rout

Why Google, Facebook and Other Tech Giants' Capital Spending Is Going Sky High

Why Google, Facebook and Other Tech Giants' Capital Spending Is Going Sky High

Three Big Factors That Rocked the Stock Market Tuesday

Three Big Factors That Rocked the Stock Market Tuesday